Reliance Retail posts strong retail sales in FY22

The last fiscal 2021 -- 22 of Reliance Industries retail arm posted strong numbers with investments worth nearly 30,000 crore, the company stated in its annual report.

Reliance Retail Ventures invested over 9,700 crore in partnerships, RIL chief Mukesh Ambani said.

It made significant investments in a number of companies, including Ritu Kumar, 7-Eleven, Milkbasket, Kalanikethan and Just Dial.

The retail arm said it created over 2,500 new stores by adding 7 new stores every day in FY 22. It currently has 15,196 stores.

In FY 22 Reliance Retail strengthened its sourcing ecosystem, working closely with producers, MSMEs Micro, Small and Medium Enterprises service providers and local and international brand companies. Reliance built on its portfolio of brands, offering a superior value proposition and differentiated products to customers, the company underscored.

In the last fiscal, Reliance Group added more than 2.32 lakh 2,32, 822 jobs, taking the total number of employees to 3.42 lakh 3,42, 982 compared to RIL employees 22,642; Jio 83,347 and Reliance Retail 2,15, 614. This addition resulted in a growth of 56 per cent for RIL in FY 22 as compared to the previous year. Retail had a surge of 132 per cent in fresh recruits, with a 67 per cent increase in the women's workforce.

Reliance plans to become a disruptor in the green energy sector, taking cues from Jio's entry into the sector in 2016. In the coming years India will have the world's most affordable green energy, according to the RIL chief.

As it enters the next stage of growth, the company said that it will accelerate the growth of digital, new commerce, new energy, and new material businesses through its robust cash flow and balance sheet.

The company stated that 55 per cent of its revenues came from Tier 2 and below cities. In the mentioned cities, 75 per cent of new stores are added.

The metro regions of Delhi National Capital Region or NCR Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, Ahmedabad and Pune are considered Tier - 1. State capitals and evolving areas are categorised as Tier 2 The districts are referred to as Tier 3 and 4 based on their urban population.